KLMT vs. NZAC
KLMT (Invesco MSCI Global Climate 500 ETF) and NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) are both Global Equities funds - KLMT tracks the MSCI ACWI Select Climate 500 Index while NZAC tracks the MSCI ACWI Climate Paris Aligned Index. Both are passively managed. Over the past year, KLMT returned 23.15% vs 18.44% for NZAC. With a 0.95 correlation, they move nearly in lockstep. KLMT charges 0.10%/yr vs 0.12%/yr for NZAC.
Performance
KLMT vs. NZAC - Performance Comparison
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Returns By Period
In the year-to-date period, KLMT achieves a 10.09% return, which is significantly higher than NZAC's 5.64% return.
KLMT
- 1D
- -0.33%
- 1M
- 0.00%
- YTD
- 10.09%
- 6M
- 9.12%
- 1Y
- 23.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NZAC
- 1D
- -0.35%
- 1M
- -1.61%
- YTD
- 5.64%
- 6M
- 4.67%
- 1Y
- 18.44%
- 3Y*
- 17.67%
- 5Y*
- 9.09%
- 10Y*
- 12.14%
KLMT vs. NZAC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KLMT Invesco MSCI Global Climate 500 ETF | 10.09% | 21.31% | 4.94% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 5.64% | 20.55% | 5.56% |
Correlation
The correlation between KLMT and NZAC is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2024 | 0.95 |
The correlation between KLMT and NZAC has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
KLMT vs. NZAC — Risk / Return Rank
KLMT
NZAC
KLMT vs. NZAC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Global Climate 500 ETF (KLMT) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| KLMT | NZAC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.24 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 1.83 | +0.60 |
| Martin ratioReturn relative to average drawdown | 10.30 | 7.66 | +2.64 |
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Drawdowns
KLMT vs. NZAC - Drawdown Comparison
The maximum KLMT drawdown since its inception was -16.87%, smaller than the maximum NZAC drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for KLMT and NZAC.
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Drawdown Indicators
| KLMT | NZAC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.87% | -33.72% | +16.85% |
Max Drawdown (1Y)Largest decline over 1 year | -9.54% | -10.10% | +0.56% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.19% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.31% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -2.50% | -3.72% | +1.22% |
Average DrawdownAverage peak-to-trough decline | -1.91% | -5.31% | +3.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 2.41% | -0.16% |
Volatility
KLMT vs. NZAC - Volatility Comparison
Invesco MSCI Global Climate 500 ETF (KLMT) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) have volatilities of 5.41% and 5.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KLMT | NZAC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.41% | 5.41% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 11.08% | 11.32% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.38% | 13.69% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.02% | 16.94% | -0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.02% | 17.13% | -1.11% |
KLMT vs. NZAC - Expense Ratio Comparison
KLMT has a 0.10% expense ratio, which is lower than NZAC's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
KLMT vs. NZAC - Dividend Comparison
KLMT's dividend yield for the trailing twelve months is around 1.79%, less than NZAC's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KLMT Invesco MSCI Global Climate 500 ETF | 1.79% | 1.95% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 2.10% | 1.90% | 1.88% | 1.65% | 1.81% | 1.62% | 1.59% | 2.17% | 2.53% | 2.20% | 2.00% | 2.40% |
Frequently Asked Questions
With a correlation of 0.96, KLMT and NZAC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
NZAC has higher volatility (5.41%) compared to KLMT (5.41%). In terms of maximum drawdown, KLMT dropped -16.87% vs NZAC's -33.72%.
On 1-year performance, KLMT leads with 23.15% vs 18.44% for NZAC. On fees, KLMT is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KLMT has performed better with a 23.15% return vs 18.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KLMT is cheaper with a 0.10% expense ratio, compared with 0.12% for NZAC.
NZAC has the higher dividend yield at 2.10%, compared with 1.79% for KLMT.
KLMT tracks MSCI ACWI Select Climate 500 Index, while NZAC tracks MSCI ACWI Climate Paris Aligned Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.10% for KLMT and 0.12% for NZAC.
KLMT currently has the higher Sharpe Ratio (1.75 vs 1.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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